365, Lot: 548. Estimate $100. Sold for $130. This amount does not include the buyer’s fee.

SCOTLAND. William I 'the Lion'. 1165-1214. AR Penny (17.5mm, 1.36 g, 10h). Edinburgh or Perth mint; Hue and Walter, moneyers. Struck circa 1205-1230. Crowned head left; scepter before / Voided short cross pattée; mullet of six points in each angle. SCBC 5029. Good Fine, toned, porous.

In his book on Scottish coinage (p. 14), I. Stewart notes (based on Burns) that the amount of points on the mullets on the reverse indicate the mint of origin, and finds support in the coinage of Alexander II that indicates the pennies with four mullets of six points probably indicates Berwick. Since Stewart's book, however, multiple die links have been found of obverse dies combined with reverses having separate patterns of mullets, which makes the mintmark theory almost certainly incorrect. The two moneyers here, Hue and Walter, had been separately operating at the Edinburgh and Perth mints in the earlier, mint-signed coinage, so it is possible that they were both brought together at one or the other for this phase of the coinage.